Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Transfer under a joint development agreement requires more than execution of development documents and an irrevocable power of attorney: property rights must be effectively and irrevocably parted with through an enforceable arrangement. The notes state that a later partition decree and development agreement may show that no completed transfer or real income accrued. They further explain that agricultural income from inherited land should not be rejected solely for missing old cultivation records where later records support agricultural use, the land's character is undisputed, and prior assessments accepted the claim without changed facts. A search-based addition founded only on another person's statement and ad hoc allocation requires corroborative material linking undisclosed income to the assessee.
Transfer under a joint development agreement requires more than execution of development documents and an irrevocable power of attorney: property rights must be effectively and irrevocably parted with through an enforceable arrangement. The notes state that a later partition decree and development agreement may show that no completed transfer or real income accrued. They further explain that agricultural income from inherited land should not be rejected solely for missing old cultivation records where later records support agricultural use, the land's character is undisputed, and prior assessments accepted the claim without changed facts. A search-based addition founded only on another person's statement and ad hoc allocation requires corroborative material linking undisclosed income to the assessee.
Note: It is a system-generated summary and is for quick reference only.
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